Test

TECHNOLOGY
technology enables you to send RFQ’s to underwriters that can fulfill the needs of a specific group. More definitively, you can align specific characteristics with Underwriters and their unique risk profile through a series of whitelist and blacklist parameters. You will never accidentally send a non-matching group to your underwriting partners again.AndforUnderwritersithelpstoprioritizetheir workload by showing them RFQ’s that match their own internal quoting specifications.
HERE’S A SIMPLE EXAMPLE
A TPA or Broker may have sent out RFQ’s for a 200-group
life count to Underwriters whose threshold for writing business is a minimum of 500 lives. Oops, time and money wasted! Or using the former, highly manual process, an Underwriter would have to slog thru a large volume of RFQ’s to find appropriate matches to their quoting guidelines. Once again, oops, time and money wasted! The“win,win”meansanincreasedlevelof efficiency, an improvement in time to quote, better matches and ultimately, cost avoidance and savings. And lastly, our “Matchdex” tool offers a complete array of analytics that will help all users of Quote-LinQ® make more informed business decisions.
Matchdex
As you know, part- nerships in every aspect of
a business are critical to success. They are funda- mental to the Ringmaster philosophy of business development and growth, but they also have great relevance to product development and enhancement.
In December of last year, we announced a license agreement with David Young Consulting, Inc. (DYC) to connect
its Proprietary EDI transaction set(s) for medical Stop-Loss with our Quote-LinQ® Stop-Loss solution.
As of this printing, I’m pleased to announce that the integration is complete and fully operational. This automatically enables the creation of the case in ESL Office without any data entry by the underwriter and it automates a market spread analysis with 100% data accuracy with no data entry required by the TPA or Broker. Additionally, la- sers, terms and conditions and liabilities are automat- ically extracted from the
L L i i n n Q Q ’ ’d d • • F Fa a l l l l 2 2 0 0 2 2 1 1
underwriter proposals for comparative purposes.
Ultimately, the integra- tion significantly improves the efficiency of the Stop-Loss procurement process by reducing errors and time spent to quote and to conduct rework,
in what was a formally, highly manual process. In fact, our initial Clients are reporting a 40% savings in time to quote. The result is a significant improvement in operational efficiencies that decrease administra- tive costs driving positive, bottom-line gains in your business operation.
Turning to another one of my favorite topics, the “Matchdex” feature of our Quote-LinQ® product. For Underwriters, TPA’s and Brokers alike, finding the right market or the right partner for a specific group based on their business guidelines or needs has always been a challenge. Our “Matchdex” is the perfect tool to help the afore mentioned stakeholders place or write business based on
a group’s risk profile. For TPA’s and Brokers, the
JEREMY MARTIN
Chief Technology Officer
Our new technologies are built to significantly improve the Stop-Loss procurement process.
330.648.3700 • rmtsales@ringmastertech.com • www.ringmastertech.com
3
© 2021 by Ringmaster Technologies, Inc. All rights reserved. © 2021 by©R2in0g2m1 baysRtienrgmTeacsthenr oTelochgnieoslo,gIinecs,. InAcl.l rAilgl rhigthstrserseeserrvved.